401k Shit the Bed?

[Goalpost]

(03-14-2020, 01:03 AM)NATI BENGALS Wrote: That was in response to your Don’t look at your 401k comment.

I would say that is what the majority of Americans do. Make uneducated retirement investment decisions because a 401k with only specific funds is supposed to be our primary retirement savings vehicle.

It’s like giving Wall Street most of your life savings and hoping they are looking out for your best interest.

And then when you “don’t look” for two weeks 20% of the shit you have worked your whole like for us gone.

My whole point of the thread was to complain about our broke ass retirement system. We need to strengthen social security.

I kind of think you are overlooking the match part of it.  You cant go to a bank with 6 percent of income, not taxed until later if you want. and the bank gives you a match.  Also, 401K funds have options. You can invest in company stock, Mutual funds, or bonds.  You can just take the income and match and invest in bonds if you want, and feel safer although history shows stocks return better.  What you absolutely should not do is invest too much of your savings in your own company stock.  If something happens to your company, you could not only lose your job, but if the company goes under you lose your savings too...ie Enron employees.